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Contact:
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Robert Schmermund
(202) 857-3104
Jim Eberle
(202) 857-3145
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Jim Eberle
(202) 857-3145 (work)
(703) 893-2593 (home)
[email protected]
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For Immediate Release
April 5, 2001
#01-30 |
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E-mail:
[email protected] |
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ACB COMMENDS FDIC FOR COMPREHENSIVE REPORT ON DEPOSIT INSURANCE, QUESTIONS NEW PREMIUMS ON HEALTHY, WELL-MANAGED BANKS
WASHINGTON, D.C. — America’s Community Bankers commended the FDIC today for its comprehensive report on deposit insurance reform, but questioned why healthy, well-managed banks should be charged any insurance premiums.
“We are pleased that the FDIC report incorporates many of ACB’s recommendations,” said ACB President Diane M. Casey, “and we pledge our ongoing support of reform as the debate moves to Capitol Hill.”
Casey said that ACB’s recommendations to the FDIC included the risk-based premium approach, but that ACB did not recommend imposing a premium on the banks and thrifts now paying zero premiums. “We believe in risk-based premiums, but banks ranked 1A should not be paying premiums into insurance funds that are already overcapitalized,” she said.
“The debate on this issue and others, including the coverage level, will be long and controversial,” Casey said. “That’s why we are working with Congress to immediately enact the bipartisan bill introduced by Reps. Bob Ney (R-Ohio) and Stephanie Tubbs Jones (D-Ohio) to stabilize the insurance funds now being undermined by excessive deposit growth by come companies,” she said.
The Ney-Tubbs Jones bill would merge the insurance funds, allow the FDIC to impose a fee on institutions that generate rapid deposit growth without paying insurance assessments, and give the FDIC the flexibility to recapitalize the fund over a reasonable period of time.
America’s Community Bankers is the national trade association committed to shaping the future of
banking by being the innovative industry leader strengthening the competitive position of
community banks. To learn more about ACB, visit
www.AmericasCommunityBankers.com.
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